Optical interconnects are fast becoming popular for high speed data transmission systems in telecommunications and data center/enterprise networks. Optical modulators used in such systems are configured to modulate the intensity of beams of light used for data transmission. Some optical modulator devices may use light modulation techniques based on changing absorption coefficient of a material (e.g., absorptive material) through which the input light beam travels, thus correspondingly changing the intensity of the light beam. One method of using absorptive materials for optical modulators may entail using a metal-oxide-semiconductor (MOS) structure in a modulator waveguide, where the absorptive material may be sandwiched between the oxide and semiconductor. However, undesired light absorption losses may occur in the MOS-based waveguide due to presence of a metal contact layer adjacent to the waveguide. The modulation efficiency may also be low because of low confinement of light in the waveguide.